The cloud-based brokerage lifted agent count 11 percent between the end of December and March, according to quarterly earnings data released Thursday. Real now boasts over 27,000 agents.
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The Real Brokerage lifted its agent count in the first quarter of 2025 and slashed net losses amid a decline in closed sides, according to an earnings call Thursday that positioned artificial intelligence as the answer to a sluggish market.
In the first quarter, The Real Brokerage continued its efforts to leverage technology, commission splits and other tools to attract more agents to the cloud-based brokerage. Real’s agent count jumped 11 percent between the end of December and the end of March, and the firm now boasts over 27,000 agents, according to the earnings data.
“The housing market has kicked off 2025 on a slow note, with existing-home sale units down about 2 percent year-over-year during the first quarter,” Real President Sharran Srivatsaa said while unveiling the results on Thursday. He attributed the slowdown to “ongoing affordability pressures that have weighed on the market.”
A voice that sounded similar to Real CEO Tamir Poleg announced during the call that over 800 agents had already joined the brokerage since the end of the first quarter. To highlight the power of Leo, The Real Brokerage’s artificial intelligence service, Poleg unveiled that his statements were actually made by Leo.
“My prepared remarks today, including this section, were read entirely by LeoAI,” the AI service said. “That’s not a gimmick. It’s a reflection of how far we’ve come, and a hint at where we’re going.”
The “real” Poleg later added, “At this time, Leo is able to have real-time voice conversations, and we are planning to test these capabilities with our agents in the coming weeks.”
The company’s sides fell for the third straight quarter, with Real agents closing 33,617 sides in the quarter. Agents closed 35,832 sides in the third quarter of 2024 and 35,370 in the fourth quarter.
Nonetheless, closed sides clocked in 76 percent higher in the quarter than the same time a year ago.
The brokerage posted a $5.1 million net loss in the quarter as it continued to scale debt-free. That was down from $16 million in the same quarter a year earlier.
Total revenue grew to $353.9 million in the quarter, up from $200.7 million a year earlier. Its median home sale price remained flat at $380,000.
Srivatsaa used the call with investors to differentiate Real from other brokerages that are leading conversations around private listings and other key policy issues facing the real estate industry.
Real has so far not created its own private listings network, as Compass, Douglas Elliman, The Corcoran Group and others have done. But it could.
“As a top 10 brokerage, we have the scale to launch a massive exclusive listing network if we believed it was in the best interest of agents and their clients,” he said.
In the meantime, Srivatsaa said, Real would continue to focus on training its agents and offering them tools and tech to succeed through a sluggish market.
“While the industry debates, we stay focused,” he said. “It’s important to understand that at Real, we don’t chase headlines.”
